Crypto remains weak this morning with Bitcoin (BTC) holding below the psychologically important USD 10,000 level. Another busy day in the space with Facebook's David Marcus' second day testifying to Congress and the G7 Finance Ministers' meeting with crypto a scheduled topic of conversation.
Crypto had a great weekend with Bitcoin (BTC) leading the way and climbing above USD 10,000 for the first time since late 2017. Volumes were elevated on the move with activity in the range of 2x the 30-day average throughout.
Crypto is higher overnight with BTC touching on its highest levels since April 2018. Volumes are up on the move with activity on Bitfinex, for example, ~115% of the 30-day average.
The Focus In The Last Week Has Been Facebook Entering Crypto, Innovation/Development Has Continued Within Existing Players In The Space - Namely, Last Week Bitfinex (BFX) Launched The 'Unus Sed Leo Transparency Initiative.
Facebook Released Its Libra (Not GlobalCoin) Whitepaper. There Is A Large Amount Of Content To Digest But We Give Our Early Thoughts And Highlight Some Questions.
Crypto is higher this morning with Litecoin (LTC) now the only coin in the Top 10 that is negative. Bitcoin SV (BSV) is best performing and the only member of the Top 10 up over +10%.
